Chief financial officer André Godin said Neptune’s products were now in supplements sold in leading retailers including Walmart and Walgreens: "A solid foundation has been established by our American distributors and we are now beginning to see the results of our mass roll out in the United States.”
Growing interest in the benefits of krill oil
Michel Timperio, vice president business development, added: "We are receiving a very positive response from US consumers.
"Based on growing interest and consumer education on the benefits of krill oil, we are confident Neptune will see strong continued growth in the US market in coming quarters."
Patent protection
Neptune, which recently started trading on the Toronto Stock Exchange, has secured two US patents covering its krill oil extracts in recent weeks.
The first, no. 8,030,348, protects Neptune Krill Oil (NKO) and also covers oils and powders extracted from krill containing marine phospholipids bonded to EPA and/or DHA and distributed and/or sold in the US, and is valid until 2025.
The second, no. 8,057,825, awards Neptune exclusive use of krill extracts in the US as a method for reducing cholesterol, platelet adhesion and plaque formation.
Production capacity
The firm, which aims to ratchet up production capacity from 130,000kg/year to almost 500,000kg by 2014, says the first phase of the expansion at its facility in Sherbrooke, Quebec, should be completed by March 2012.